Texas Education Code - Section 56.053. Terms
Legal Research Home >
Texas Lawyer > Education Code > Texas Education Code - Section 56.053. Terms
§ 56.053. TERMS. (a) The governing board of each
institution shall adopt rules providing for the terms of the loan,
subject to the following:
(1) the loan must be repaid over a period not to exceed
90 days for a loan made for a regular semester or long summer
session or over a proportionately shorter period for loans made for
a six-week summer session;
(2) the loan must be evidenced by a promissory note
that bears interest at a rate of not more than five percent per
year; and
Text of subsec. (a)(3) as amended by Acts 2001, 77th Leg., ch. 80,
§ 3
(3) the maximum loan amount per student may not be
greater than an amount equal to the tuition and required fees for
the courses in which the student is actually enrolling.
Text of subsec. (a)(3) as amended by Acts 2001, 77th Leg., ch. 655,
§ 6
(3) the maximum loan amount per student may not be less
than an amount equal to the tuition and required fees for the
courses in which the student is actually enrolling, unless the
institution determines that a lower amount would be in the best
interest of the student.
(b) The loan program must provide for making loans to
students whose tuition is paid on a basis other than semester credit
hours, and must provide loan terms analogous to the terms for
students paying tuition on the basis of semester credit hours.
Added by Acts 1985, 69th Leg., ch. 708, § 15(a), eff. Aug. 26,
1985. Amended by Acts 2001, 77th Leg., ch. 80, § 3, eff. May 14,
2001; Acts 2001, 77th Leg., ch. 655, § 6, eff. Sept. 1, 2001.
Section: 56.035 56.036 56.037 56.038 56.039 56.051 56.052 56.053 56.054 56.055 56.071 56.072 56.073 56.074 56.075
Last modified: August 10, 2007
|
